Key points from the data to the end of March 2017 include:
Part one: Broad money and credit: aggregate, sectoral and industrial detail
- Broad money, M4 excluding intermediate other financial corporations, increased by £10.1 billion in March (Table A), with positive flows for all sectors (Tables B-D). Within this, households’ M4 flows softened a little further and were £3.0 billion; private non-financial corporations’ (PNFCs’) M4 flows picked up to £3.5 billion, and were above the recent average flows.
- Sterling lending to the UK private sector excluding intermediate other financial corporations, M4Lex, increased by £14.8 billion in March (Table A), with positive net lending to all sectors (Tables B-D). Lending to households was little changed on the month, while lending to PNFCs and non-intermediate other financial corporations (NIOFCs) picked up on the month.
Part two: Lending to individuals: lending secured on dwellings and consumer credit
- Lending secured on dwellings rose by £3.1 billion in March, similar to the recent average (Table H).
- Approvals of loans secured on dwellings for house purchase and remortgaging both fell slightly for the second month, to 66,837 and 42,814 respectively, in March (Table I).
- The flow of consumer credit was in line with its recent average in March, at £1.6 billion (Table J).
Part three: Lending to businesses: net finance raised and loans to businesses, split by size of business
- PNFCs’ net finance raised from UK monetary financial institutions and capital markets was £2.5 billion in March (Table L). The largest contribution to net external finance was bond issuance, at £2.3 billion.
- The value of loans extended to non-financial businesses was unchanged, overall, in March: a £0.4 billion increase in loans to SMEs was offset by a fall in loans to large businesses (Table M).